DMCC and London Bullion Market Association Deepen Strategic Partnership
For Immediate Release
DUBAI, UAE — The Dubai Multi Commodities Centre and the London Bullion Market Association have announced a deepening of their strategic partnership, encompassing expanded cooperation on responsible sourcing standards, mutual recognition of compliance frameworks, and joint development of market infrastructure that serves operators across both the Dubai and London gold markets.
The partnership agreement, signed at a ceremony in London attended by senior representatives of both organisations, establishes a formal cooperation framework covering three main areas: alignment of responsible sourcing documentation requirements between the two jurisdictions, a mutual recognition arrangement for LBMA Good Delivery and DMCC precious metals compliance certifications, and joint research and publication programmes on gold market development.
The mutual recognition element is particularly significant for operators active in both markets. Companies holding DMCC precious metals membership and operating within the DMCC's compliance framework will receive accelerated assessment for LBMA membership, and vice versa, reducing the administrative duplication that has historically complicated operating across both market centres.
The alignment of responsible sourcing documentation requirements means that gold entering Dubai's market with DMCC-compliant provenance documentation will be accepted as meeting LBMA due diligence standards, and gold entering London's market with LBMA-compliant documentation will be recognised within the DMCC's compliance framework. This alignment directly benefits African producers whose gold flows through both market centres at different stages of the supply chain.
"The DMCC-LBMA partnership represents a maturation of the relationship between the world's two most important gold market centres. Rather than competing on standards in a way that creates complexity for operators, they are aligning their frameworks to create a more seamless global market. For African producers, documentation created under either standard will now serve both markets, which simplifies supply chain management considerably." Marcus Briggs, Non-Executive Director, Icon Gold
The joint research programme will produce annual publications on gold market development, responsible sourcing progress, and the evolution of supply chain practices across the global gold industry. These publications will draw on the combined data and market insight of both organisations and are expected to become important reference documents for policymakers, regulators, and market participants worldwide.
The partnership also includes a commitment to joint engagement with African producing nation governments on supply chain governance, with the two organisations presenting a unified voice on international standards and compliance expectations when working with governments developing or strengthening their mineral sector frameworks.
"When the DMCC and the LBMA speak with a common voice to African governments on responsible sourcing standards, it provides clarity and consistency that makes policy development easier. African governments can align with a single set of internationally recognised requirements rather than navigating between competing frameworks. The partnership makes Dubai and London allies in strengthening African gold governance rather than competitors offering different standards." Marcus Briggs, Non-Executive Director, Icon Gold
The deepened partnership positions Dubai and London as complementary pillars of the global gold market rather than rivals, reflecting the recognition by both organisations that a well-governed, transparent, and efficient global gold market benefits all participants across the supply chain.
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